capital market is one of the most important sectors of every economy. economic growth can lead to capital market boom and development, on the other hand, achieving desired economic growth and development is impossible without efficient financial institution and suitable funding resources. in this study the relationship between financial development and economic growth in opec countries and non-...

In this paper, we consider a spatial-autoregressive model with autoregressive disturbances, where we allow for endogenous regressors in addition to a spatial lag of the dependent variable. We suggest a two-step generalized method of moments (GMM) and instrumental variable (IV) estimation approach extending earlier work by, e.g., Kelejian and Prucha (1998, 1999). In contrast to those papers, we ...

â â â  â â â â â â  â  abstract â  based on the recent literature of heterogeneous firms, productive firms self select themselves into foreign markets. in this framework, there is a productivity rise prior to exporting. on the other words, different export performance across firms is linked to their heterogeneity. â  the main purpose of the present paper is to examine the so-called hypothesis o...

This paper considers time series Generalized Method of Moments (GMM) models where a subset of the parameters are time varying. We focus on an empirically relevant case with moderately large instabilities, which are well approximated by a local asymptotic embedding that does not allow the instability to be detected with certainty, even in the limit. We show that for many forms of the instability...

This paper examines the impact of taxes on economic growth based classifying countries by GDP per capita and a tax burden. The Partitioning Around Medoids (PAM) technique is used because it not too sensitive to outliers. Through this multicriteria classification technique, Generalized Method Moments (GMM) employed analyze data three groups consisting 63 from 2003 2017. results show that most ha...

Information and communication technology (ICT) is considered a significant factor in economic growth development. Over the past two decades, scholars have studied impact of ICT on growth, but there has been little research that addressed human development, which one fundamental factors This could be especially important from perspective developing countries, can develop faster through implement...

We propose the “generalized min-max” (GMM) kernel as a measure of data similarity, where data vectors can have both positive and negative entries. GMM is positive definite as there is an associate hashing method named “generalized consistent weighted sampling” (GCWS) which linearizes this (nonlinear) kernel. A natural competitor of GMM is the radial basis function (RBF) kernel, whose correspond...

This paper analyses the properties of standard estimators, tests, and con…dence sets (CS’s) in a class of models in which the parameters are unidenti…ed or weakly identi…ed in some parts of the parameter space. The paper also introduces a method to make the tests and CS’s robust to such identi…cation problems. The results apply to a class of extremum estimators and corresponding tests and CS’s,...